Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Eugene McCague:

Well, if I take this, it didn't change the way we were working because we went back to drafting the Bill. The purpose of the meeting, I think, was, in fact I've now learned, although I didn't know earlier, that the purpose of the meeting was a follow-up from a meeting on the Friday, which we hadn't been at. But it was essentially, as I say, a series ... there had been a series of meetings, of briefings as to how ... what the loan books were like, the first one being on Wednesday, the 24th which was our first day. It's in the core documents. It's dated Thursday, 25th but I think our view is, as others have, that it was the 24th. So the general discussion that day was a further update on what was happening. Merrill Lynch had produced the paper, the slideshow if you like, on the 26th I think and then they had the narrative paper that morning and I think the ... they didn't go through it in detail but they went through the options, which were the same options that had been discussed before.

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